Insider Selling: CarGurus, Inc. (NASDAQ:CARG) COO Sells 25,168 Shares of Stock

by · The Markets Daily

CarGurus, Inc. (NASDAQ:CARG – Get Free Report) COO Samuel Zales sold 25,168 shares of CarGurus stock in a transaction on Monday, November 18th. The shares were sold at an average price of $35.43, for a total value of $891,702.24. Following the completion of the sale, the chief operating officer now directly owns 442,321 shares of the company’s stock, valued at $15,671,433.03. This trade represents a 5.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Samuel Zales also recently made the following trade(s):

  • On Wednesday, October 16th, Samuel Zales sold 25,168 shares of CarGurus stock. The stock was sold at an average price of $31.62, for a total value of $795,812.16.

CarGurus Trading Down 0.8 %

Shares of NASDAQ CARG traded down $0.29 during midday trading on Wednesday, reaching $35.16. 644,884 shares of the company were exchanged, compared to its average volume of 823,977. CarGurus, Inc. has a 1 year low of $20.63 and a 1 year high of $37.94. The stock has a fifty day simple moving average of $31.43 and a 200 day simple moving average of $27.60. The stock has a market cap of $3.65 billion, a P/E ratio of -77.06, a PEG ratio of 1.95 and a beta of 1.55.

Analysts Set New Price Targets

Several brokerages have issued reports on CARG. Jefferies Financial Group boosted their target price on CarGurus from $35.00 to $38.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. raised their price objective on shares of CarGurus from $36.00 to $40.00 and gave the company an “overweight” rating in a report on Friday, November 8th. B. Riley upped their target price on shares of CarGurus from $30.00 to $40.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. BTIG Research increased their price objective on shares of CarGurus from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Finally, Needham & Company LLC lifted their price objective on shares of CarGurus from $27.00 to $39.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $37.41.

Check Out Our Latest Research Report on CARG

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Point72 Hong Kong Ltd bought a new position in shares of CarGurus during the 3rd quarter worth about $28,000. Signaturefd LLC increased its position in shares of CarGurus by 81.3% during the third quarter. Signaturefd LLC now owns 959 shares of the company’s stock valued at $29,000 after buying an additional 430 shares during the period. Kathleen S. Wright Associates Inc. purchased a new stake in shares of CarGurus during the third quarter valued at approximately $30,000. CWM LLC increased its holdings in CarGurus by 54.1% in the 2nd quarter. CWM LLC now owns 1,381 shares of the company’s stock worth $36,000 after buying an additional 485 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in CarGurus by 43.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,579 shares of the company’s stock valued at $41,000 after purchasing an additional 479 shares during the period. Institutional investors own 86.90% of the company’s stock.

CarGurus Company Profile

(Get Free Report)

CarGurus, Inc operates an online automotive platform for buying and selling vehicles in the United States and internationally. It operates through two segments, U.S. Marketplace and Digital Wholesale. The company provides an online automotive marketplace where customers can search for new and used car listings from its dealers and sell their car to dealers and other consumers; and paid listings subscriptions for enhanced access to its marketplace that connects dealers to a large audience of informed and engaged consumers.

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